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Pursuant to the Central Bank of Montenegro Law, until Montenegro’s accession to the European Union, the objectives of the CBCG remain the fostering and maintaining of the stability of the financial system, including fostering and maintaining a sound banking system and a safe and efficient payment systems as well as contributing to achieving and maintaining price stability.

Without prejudice to pursuing its objectives, the Central Bank supports the implementation of economic policy by the Government of Montenegro, acting in accordance with the principles of a free and open market and the freedom of entrepreneurship and competition.

After Montenegro`s EU accession, the main objective of the CBCG will be to maintain price stability, which is in line with the provisions of Articles 127(1) and 282(2) of the Treaty on the Functioning of the European Union (TFEU) and Article 2 of the Statute of the ESCB and of the ECB. The CBCG will support the general economic policies of the European Union and act in accordance with the principle of an open market economy with free competition, favouring an efficient allocation of resources, and in compliance with the principles set out in the TFEU.

Article 143 of the Constitution of Montenegro does not specify price stability as the primary objective of the Central Bank of Montenegro. Therefore, with a view to aligning the Montenegrin legal framework with the provisions of Articles 127(1) and 282(2) of the Treaty on the Functioning of the European Union and Article 2 of the Statute of the European System of Central Banks and of the ECB, the aforesaid article 143 of the Constitution will be amended to prescribe that the status, functions, tasks, functioning and organisation, as well as objectives of the Central Bank of Montenegro shall be regulated by law.